The use of Personalization in Marketing

Question: Using the internet, every customer can be treated as an individual and receive a custom-made marketing offering. Do you agree or disagree? Answer: The use of personalization in marketing is opted to be enjoyed by the individual when subjected online. The concept of personalize marketing is the automated process in the form of target marketing that crafts the individual messages and builds recommendation engines being customer based rather company based (Chung, Wedel and Rust 2016). I would agree with the concept because today personalization is not limited to welcome messages but it also manifests product recommendation as well. However, according to the customers, the fact remains that today 60% of the customers prefer online stores and would want the site to retain their information for future use and the individual would like to get a personal message recognizing the way one shops (Davies 2013). According to the facts and figures, Davies (2013) mentions that though the customer engagement is prominent in personalization but still only 19% of the marketers adopt this method. On the other hand, personalization can be well seen with the following examples based on effective segmentation. BMW has increased conversions through personal MMS messages have led to increase in $500,000 in revenue and conversions by 30%. On the other hand, personalization is viable in the segments because the customers demographic, geographic as well as psychographic are measurable based on the personal details the individual gives the choice of products one buys. Secondly, it is substantial as well because as from the above example BMW has generated enough profits as well as sales from personalization. Third, the online market is easily accessible to the customer with one-click away and the marketers can evaluate the accessibility through the personal information given (Simkin 2016). Fourthly, the customer segments can be differentiated from each on the price range it ops fdor while choosing the product which could be established through different needs and preferences in different products. Lastly, The personalization is actionable if the consumer mentions its required need and based on that, the marketer can formulate different programs that will not only meet consumer needs but will also service it efficiently an d effectively (Schlegelmilch 2016). References Chung, T.S., Wedel, M. and Rust, R.T., 2016. Adaptive personalization using social networks.Journal of the Academy of Marketing Science,44(1), pp.66-87. Davies, A. 2013.Three major benefits of using personalisation in marketing. Econsultancy. Schlegelmilch, B.B., 2016. Segmenting Targeting and Positioning in Global Markets. InGlobal Marketing Strategy(pp. 63-82). Springer International Publishing. Simkin, L., 2016. 11 Segmentation.The Marketing Book, p.271.